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Cherry Hill, NJ Real Estate News

By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Did I get you to open this link?  Read on if you want to learn how to get more business from your titles. Would you have clicked if I said, "My title is so catchy, it's great....don't you agree??? "  What if I would have said, "learn good title content". --  ?? Not as flashy and maybe slightly boring. Forget the clever title, just like those you hear on TV or read in magazines. Let me show you an example of a title that I used for my blog the other day.      An example that I should have used to have gotten more readership here on Active Rain - Title : My client did flips tonight when I told them that they were approved !!!   Catchy titles are great, right? Not really. If you want to catch the attention of readers here on Active Rain, yes, catchy titles are great.  What about those se...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  I have been doing this for over 15 years, lending money. I enjoy helping people sometimes achieving their dream of purchasing their first home or helping others just upgrading or refinancing. Doctors give life when delivering a new born and the parents are so thrilled, may it be their first child or possibly a second or third. May it be the doctors 3rd child delivered or their 100th, if they take pride in their job, they are always happy. Same thing for a teacher trying to get that third grader to achieve their full potential as a student. Finally that student pulls through with high marks because they applied themselves. Not only is the student happy, the parents ecstatic, but that the teacher feels warmth, closure, and just over-joyed. Tonight, I was able to feel something that I h...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
My childhood Music Memories ..... I have mentioned this before, but music has been my calendar for most of my life. I can relate so much to what happened in my life because of music. This of course will certainly be a walk down memory lane. I was a shy person when growing up. Yes, imagine that. Music didn't really come into my life until I was in 6th grade. That was when I entered middle school, being exposed to more people. It's the same year that I asked my parents for one of those big boom boxes for Christmas. You should have seen me with my parents and grandparents walking down the street, the day after Christmans, with my big boom box. Later that year, our school had a contest to see who could guess the number of buttons in a jar. The prize? Your pick of any music album. Guess who...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Mortgage insurance, may it be FHA or conventional, is not as confusing as it may seem. Especially if you have a qualified mortgage consultant that knows the ins and outs of mortgage insurance.     A quick glimpse of the different meanings : FHA --  MIP = Mortgage Insurance Premium  (These are all for refinances & purchases - there are a few different things to know when it comes to streamline refinances)  FHA Streamline Refinances -- knowing your options -- Part 2 of 2  I will break down the MI and MIP on streamlines at another time.  You have upfront MIP and annual MIP. As it stands now, until they change this to risk base pricing in the next few months, your upfront MIP is 1.5% of the base loan amount. Meaning, if you borrow $100,000 (base loan amount), your upfront MIP will be $1,5...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  You are sitting at the closing table and the title company says that your mortgage money is not in their account as of yet. What could this mean? Possibly no closing or maybe a dry closing? I was inspired to write this because of many of the comments from other real estate agents in a blog that Diane Testa wrote, Are you having a lot of "dry" closings lately?   In Diane's post, here is what she had mentioned in regards to why the money might not be at the closing table. "Now, here is my question. Is this getting to be common practice? Are you experiencing the same corruption? Because that is the only thing I can call this. Banks are holding out funds on Friday afternoon closings and getting paid even though they didn't put the money on the table." Now, Diane is a good realtor and has...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
MIP update as of 10/1/08  -- New Upfront Mortgage Insurance Premium Changes   Educating the consumer is sometimes the simplest in form, but can be so misleading by those that don't do their research or know what they are talking about. I tell people that I am not god nor am I perfect, but I do consider myself to be very good at what I do. And if I am not sure, I do my research to make sure that it's very accurate. As I have conversations with others in the real estate profession, it becomes scary to when I hear stories of incompetent loan officers telling their client that they are approved for a mortgage, when that is not even the case.  When I did some searches on the internet regarding monthly mortgage insurance, known as MIP for FHA, I found a few sites that were not even misleadin...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
 Were they rumors that were floating around that Bank of America was going to buy Countrywide? Matt Heaton gave a quick analysis of this yesterday. Bank of America buying Countrywide?  Well, it's been reported that it's official and was announced this morning that BofA to Buy Countrywide for $4B in Stock. The agreement has been approved by both companies' boards and is subject to regulatory and Countrywide's shareholders approval.   In my comment to Matt, I stated that I could see something happening by Spring. It was mentioned that this is a deal that was offered and expects to be completed by the 3rd quarter of 2008.Is this good or bad?  I personally think it's a risk because of the so-called "bad" loans that Countrywide has on their books. But if anything, I see this as a long term i...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
How many of you have been disappointed when a sales person tells you one thing, to find out later on that not only were they wrong, but way off base. Possibly later on, finding out from others that you were basically lied to. This brings me to a consumer's expectations on how a certain job should be done. This is not magic. The consumer shouldn't be asking for miracles, flying carpets, or any other type of magic tricks. What should the consumer want when speaking to a mortgage professional, or in the basic concept of business, should expect period, from any sales person.  Reality Honesty Professionalism To be treated as they would want to be treated To be sincere and genuine       A wise man once told me, "keep your client's expectations to a certain level". Meaning, keep their expecta...
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By Matt Moxhay, Moorestown Real Estate
(Prudential Fox & Roach)
The Cherry Hill Real Estate market was slightly outperformed by the Camden County market as a whole in 2007.  Pended units were down 61 and Sold units were down 20 versus 2006.  Listed units were down by 35 in the same period.  This has led to a current inventory of 545 units.  Cherry Hill has been averaging 78 units sold per month which means there is currently 6 months worth of inventory in Cherry Hill.  This outperforms the Camden County market, which has 8 months worth of inventory. An inventory accumulation rate of 6 months represents a fairly balanced market given the time a year.Cherry Hill had an average sale price in 2007 of $289,315 which is 0.7% lower then the sold average in 2006.  This lags behind how Camden County performed during the same period: which saw a 1.4% increase...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  It doesn't matter if you are moving from California, Canada, Florida, from the east coast to the west coast, etc, etc.  But not only will you need the services of a good realtor to help you with unfamiliar territory, you will need the services of a very good loan officer. Just moving and/or relocating in general can be challenging. Keep in mind, even though you will be living in that house, may it be with a small family or a large family, you want to feel secure when it comes to your finances. As carefully as you select your realtor, you want to do the same with the person that will help you with your mortgage financing. Especially if the reason for moving is for short term, because you just don't want to spend money frivolously on the wrong mortgage program.      One important thing,...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Could your adjustable rate mortgage be ready to adjust? Has it adjusted and you are now having problems making your new mortgage payments? As I stated here, the FHA Secure Loan sounds great, but not all will qualify. But you need to a true mortgage professional to make sure that you would qualify and not just a bunch of broken promises from a sales person. So what do you need to know to possibly qualify for the FHA Secure loan? Keep in mind, you currently don't have to have a FHA mortgage. But you do have to meet these specific qualifications :You have to be in an adjustable rate mortgage and current on your mortgage with no lates. No matter what, you have to be current with no lates prior to your mortgage rate adjusting. Now, I was part of the hud conference call and there are circums...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  It's 2008 and you think you have seen it all. After 15 years in the mortgage business and as an FHA expert, I am baffled at what some states allow and I wanted to get everyone's opinion on a specific matter. Just the other day, I had a consumer contact me after reading several of my blogs. He told me that his previous loan officer pre-qualified him for a mortgage 2 weeks ago and just the other day, told him that he can't help him now. Why?  Because he just realized that his FHA license was going to expire at the end of the year and that he won't be able to help him settle next year, 2008, on his new home. I thought this was very strange, especially since the market will be shifting towards more FHA loans because of what has happened to conventional mortgages. (by Rey Gallegos)  And si...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
2007 Mortgage Year in Review So many of us know that mortgages can be a dry and a boring subject for the most part. I will even admit this and I have been doing this for over 15 years. I sometimes thought I was one of the few that always had passion for what I did when it came to Mortgages. But after spending 15 months on Active Rain, it's been very pleasurable to talk to so many others that feel the same as I do. It's been refreshing. 2007 Overview : We have heard so many negative things in 2007 about the housing market, the mortgage meltdown, and business in general. Feedback? It's slow, bad, record foreclosures with many to come, property values dropping, and mortgage programs becoming hard to apply for or non-existent. The media has been a big player in all of this negative news re...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Happy Holidays !!!!!! Hence why I decided to do the Mortgage Week in Review this week because I didn't want anyone to have to worry about this over the holidays. Besides, I was looking forward to reading some good mortgage blogs.The theme of this post is the Real American Dream. Not pipe dreams with loan officers that give the consumer hope and later on, pull the rug out from under them. I am dealing with my second client in 3 weeks that was promised a loan from another lender and nothing happened. Many of the blogs that I picked are not necessarily about mortgage products, but tips for consumers when shopping for a loan officer/lender, how mortgage rates work and the APR, and just caring about the consumer and making everyone aware of today's economy. The Beginning Stages of Mortgages...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
So many of us are sometimes afraid of change, until someone gives it a try. And then we might like it. I have read that when writing while blogging, that you want to keep it simple and easy to read. I semi disagree, depending on your audience and depending on your message. Just the other day, I wrote a blog about adjustable rate mortgages. I wanted to get a certain message across in regards to those that might not be getting the correct service when their loan is in processing longer than it should be. Here is an example of a sentence that I wrote. If you are starting to get the runaround, no return phone calls, your e-mails aren't being replied to, or it seems one excuse after another.... RED FLAG !!! As you can see, I wanted to get across to the reader that if they aren't getting the...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
With the news of arms or adjustable rates increasing, many homeowners might be afraid to try in fear of what they have heard in the media. People telling you that certain programs don't exist anymore. But you don't know unless you try, right? But just be careful of lenders promising you the world. I will explain more later. Refinance your adjustable rate mortgage before it increases. Are there mortgage programs out there for such people with rates about to rise? Yes, certainly. Even if your credit is less than perfect. And you might be asking yourself, how is this possible. Not all lenders can do a FHA mortgage, but I am very knowledgeable in regards to FHA loans and they can be a great asset to someone that might not be able to refinance conventionally. Here are a few reasons why FHA ...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
  Now, for many of you, you know that I am not married, nor do I have any kids. But I do have 2 great nieces and 2 great nephews. FYI.... with 2 more on the way, a boy and a girl. But the last few days was spent running back and forth between my parents house, my sister & brother-in-law's house, and Christmas Mass.  Boy, was I tired after all said and done. But let's rewind to yesterday, December 25th, 2007.It's been tradition to go over to my sister's house early Christmas morning to watch the kids get up to open their gifts. We usually would be at their house by 7 am in the morning. We would spend about 1 1/2 hours there and head back to my parents house, about 10 minutes away. And then be back by 11 am to see Santa visit their house, to receive a few more gifts. A friend of ours woul...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Google finishes the year with a series of holiday logos. Here is their final product delivered on Christmas day. If you haven't followed this series, please read the blogs below. Here are the sequence of the marketing efforts by Google in regards to their logo. As you can see, it took 5 days to finalize their logo. 1: 2: 3: 4: 5: ©2007 Google - Home Here is the other series on Google's logo for the holidays.Google & the Holidays..... Marketing at its best !! -- Part 1 of 4 12/22/07Google & the Holidays..... Marketing at its best !! -- Part 2 of 4 12/23/07 Google & the Holidays..... Marketing at its best !! -- Part 3 of 4 12/24/07 Conclusion : Google took marketing to another level. Is this something that we could learn from when working on our web sites or blogging sites, to get others...
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
It's been a great year with so many of you that I have met through Active Rain. Active Rain has been a great networking site for so many reasons. I could be here forever mentioning so many of you that I have met or that have touched me one way or another. Overall,Wishing that 2008 is better than 2007 and that Hoping to meet more of you in 2008 !!!!!! To all my past clients, Happy Holidays and thanks for the business !!! Don't send a lame Holiday eCard. Try JibJab Sendables! HAPPY HOLIDAYS & HAVE A SAFE, HAPPY, and PROSPEROUS NEW YEAR !!!!
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By Jeff Belonger, The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
( Social Media - Infinity Home Mortgage Company, Inc)
Happy Holidays from Google. If anyone watched the progression of Google's holiday logos, it was pretty cool to watch it unfold. If not, you can catch it here. Google & the Holidays..... Marketing at its best !! -- Part 1The question here is, are the little guys in the picture still working or is this the final touch? If you go to the Google logo, the number 3 spot still has question marks. And you have what appears to be green earmuffs and a yellow crane still in the way. In part 1 yesterday, Colleen Fischesser mentioned that she can see a shiny red bow. Well, she got that part right. But again, are they done yet? As many of you know, I love watching Google and it's marketing strategies during the holidays. Sure, what we are talking about are internet companies competition between each...
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